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Side-by-side financial comparison of Inotiv, Inc. (NOTV) and Waldencast plc (WALD). Click either name above to swap in a different company.
Inotiv, Inc. is the larger business by last-quarter revenue ($120.9M vs $108.8M, roughly 1.1× Waldencast plc). Inotiv, Inc. runs the higher net margin — -23.5% vs -55.7%, a 32.2% gap on every dollar of revenue. On growth, Waldencast plc posted the faster year-over-year revenue change (17.8% vs 0.8%). Inotiv, Inc. produced more free cash flow last quarter ($-10.6M vs $-13.9M).
Inotiv, Inc. is a contract research organization organized in Indiana and headquartered in Lafayette, Indiana. The company operates two core business units: Discovery and Safety Assessment (DSA) and Research Models and Services (RMS). The CRS business unit offers drug development and environmental sciences services, including safety assessment, analytical, metabolism, CMC and regulatory consultancy for small molecule drug candidates, biotherapeutics, and biomedical devices. The RMS business u...
Waldencast plc is a global multi-brand platform focused on acquiring, developing and scaling high-growth premium niche brands across the beauty, personal care and wellness sectors. It operates primarily across North America and European markets, with core offerings including clean skincare, haircare, color cosmetics and wellness products targeted at quality-focused consumers.
NOTV vs WALD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2023
| Metric | | |
|---|---|---|
| Revenue | $120.9M | $108.8M |
| Net Profit | $-28.4M | $-60.6M |
| Gross Margin | — | 67.5% |
| Operating Margin | -13.5% | -42.9% |
| Net Margin | -23.5% | -55.7% |
| Revenue YoY | 0.8% | 17.8% |
| Net Profit YoY | -2.7% | — |
| EPS (diluted) | $-0.83 | $-0.65 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $120.9M | — | ||
| Q3 25 | $138.1M | — | ||
| Q2 25 | $130.7M | — | ||
| Q1 25 | $124.3M | — | ||
| Q4 24 | $119.9M | — | ||
| Q3 24 | $130.4M | — | ||
| Q2 24 | $105.8M | — | ||
| Q1 24 | $119.0M | — |
| Q4 25 | $-28.4M | — | ||
| Q3 25 | $-8.6M | — | ||
| Q2 25 | $-17.6M | — | ||
| Q1 25 | $-14.9M | — | ||
| Q4 24 | $-27.6M | — | ||
| Q3 24 | $-18.9M | — | ||
| Q2 24 | $-26.1M | — | ||
| Q1 24 | $-48.1M | — |
| Q4 25 | -13.5% | — | ||
| Q3 25 | -4.9% | — | ||
| Q2 25 | -4.3% | — | ||
| Q1 25 | -2.4% | — | ||
| Q4 24 | -12.9% | — | ||
| Q3 24 | -10.1% | — | ||
| Q2 24 | -19.6% | — | ||
| Q1 24 | -36.2% | — |
| Q4 25 | -23.5% | — | ||
| Q3 25 | -6.2% | — | ||
| Q2 25 | -13.5% | — | ||
| Q1 25 | -12.0% | — | ||
| Q4 24 | -23.0% | — | ||
| Q3 24 | -14.5% | — | ||
| Q2 24 | -24.7% | — | ||
| Q1 24 | -40.4% | — |
| Q4 25 | $-0.83 | — | ||
| Q3 25 | $-0.14 | — | ||
| Q2 25 | $-0.51 | — | ||
| Q1 25 | $-0.44 | — | ||
| Q4 24 | $-1.02 | — | ||
| Q3 24 | $-0.73 | — | ||
| Q2 24 | $-1.00 | — | ||
| Q1 24 | $-1.86 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $12.7M | $21.1M |
| Total DebtLower is stronger | $405.8M | — |
| Stockholders' EquityBook value | $109.0M | $624.6M |
| Total Assets | $734.3M | $1.0B |
| Debt / EquityLower = less leverage | 3.72× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.7M | — | ||
| Q3 25 | $21.7M | — | ||
| Q2 25 | $6.2M | — | ||
| Q1 25 | $19.3M | — | ||
| Q4 24 | $38.0M | — | ||
| Q3 24 | $21.4M | — | ||
| Q2 24 | $14.4M | — | ||
| Q1 24 | $32.7M | — |
| Q4 25 | $405.8M | — | ||
| Q3 25 | $402.1M | — | ||
| Q2 25 | $396.5M | — | ||
| Q1 25 | $399.5M | — | ||
| Q4 24 | $396.0M | — | ||
| Q3 24 | $393.3M | — | ||
| Q2 24 | $382.4M | — | ||
| Q1 24 | $380.6M | — |
| Q4 25 | $109.0M | — | ||
| Q3 25 | $136.0M | — | ||
| Q2 25 | $143.8M | — | ||
| Q1 25 | $157.7M | — | ||
| Q4 24 | $169.8M | — | ||
| Q3 24 | $170.5M | — | ||
| Q2 24 | $182.1M | — | ||
| Q1 24 | $207.2M | — |
| Q4 25 | $734.3M | — | ||
| Q3 25 | $771.1M | — | ||
| Q2 25 | $759.7M | — | ||
| Q1 25 | $766.0M | — | ||
| Q4 24 | $772.9M | — | ||
| Q3 24 | $781.4M | — | ||
| Q2 24 | $774.6M | — | ||
| Q1 24 | $815.4M | — |
| Q4 25 | 3.72× | — | ||
| Q3 25 | 2.96× | — | ||
| Q2 25 | 2.76× | — | ||
| Q1 25 | 2.53× | — | ||
| Q4 24 | 2.33× | — | ||
| Q3 24 | 2.31× | — | ||
| Q2 24 | 2.10× | — | ||
| Q1 24 | 1.84× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-5.4M | $-13.4M |
| Free Cash FlowOCF − Capex | $-10.6M | $-13.9M |
| FCF MarginFCF / Revenue | -8.8% | -12.7% |
| Capex IntensityCapex / Revenue | 4.3% | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-28.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-5.4M | — | ||
| Q3 25 | $14.3M | — | ||
| Q2 25 | $-7.4M | — | ||
| Q1 25 | $-12.8M | — | ||
| Q4 24 | $-4.5M | — | ||
| Q3 24 | $-2.4M | — | ||
| Q2 24 | $-14.8M | — | ||
| Q1 24 | $16.9M | — |
| Q4 25 | $-10.6M | — | ||
| Q3 25 | $11.6M | — | ||
| Q2 25 | $-11.5M | — | ||
| Q1 25 | $-18.3M | — | ||
| Q4 24 | $-9.0M | — | ||
| Q3 24 | $-7.7M | — | ||
| Q2 24 | $-19.2M | — | ||
| Q1 24 | $9.9M | — |
| Q4 25 | -8.8% | — | ||
| Q3 25 | 8.4% | — | ||
| Q2 25 | -8.8% | — | ||
| Q1 25 | -14.7% | — | ||
| Q4 24 | -7.5% | — | ||
| Q3 24 | -5.9% | — | ||
| Q2 24 | -18.2% | — | ||
| Q1 24 | 8.3% | — |
| Q4 25 | 4.3% | — | ||
| Q3 25 | 1.9% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | 4.4% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 4.1% | — | ||
| Q2 24 | 4.2% | — | ||
| Q1 24 | 5.9% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NOTV
| Research Models And Services Segment | $72.9M | 60% |
| Discovery And Safety Assessment Segment | $48.0M | 40% |
WALD
Segment breakdown not available.
